Orgachim was undoubtedly one of the companies that was the most pleasant surprises for the investors. Sales went up 75% y-o-y to BGN37.5mln in H1 05 and EBITDA x H1 05 doubled (BGN 4.7mln, +2.15% y-o-y). The performance of the company was hindered only by the revaluation of its dollar denominated ZUNK obligations. The latter was a direct result of the strengthened dollar against the euro, which resulted in a double increase in H1 05 net FX loss of BGN 2.5mln, when compared to the BGN 0.7mln loss in H1 04. However the strong top line performance caused the company to end the second quarter with a cumulative net earnings of BGN0.8mln whereas the corresponding figure a year earlier was BGN –571mln.